Mastercard, NBS Bank to support digital payments adoption in Malawi

Wednesday 30 March 2022 10:07 CET | News

Mastercard and Network International have aimed to increase the adoption of digital payments in Malawi, in partnership with NBS Bank.

NBS Bank will launch a Mastercard virtual payment solution that will enable its customers to make a range of ecommerce payments to merchants that accept Mastercard locally and internationally. For instance, virtual cardholders can pay for subscription streaming services, advertising on social media platforms, online shopping as well as travel and bills. It will also allow small business owners to purchase from international suppliers.

To pay for purchases using the virtual payment solution, NBS Bank customers will receive a 16-digit card number, security code, and expiry date, which they will use to complete an online purchase like they would with a physical card. The payment solution also features multiple layers of security to ensure that the customer’s financial data is private.

Mastercard and Network International have a long-standing partnership, including Mastercard’s investment in Network International and a shared commitment to develop payment solutions that will grow electronic transactions across the MEA region. 

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Keywords: MasterCard, virtual card, ecommerce, partnership, financial inclusion, cashless
Categories: Payments & Commerce
Countries: Malawi
This article is part of category

Payments & Commerce